We’re hoping to provide information and resources to our clients and extended family as information comes to light. This is a rapidly changing environment, with new programs and policies emerging daily, so we’ll do our best to keep this as up to date as possible. If you have additional information or updates to share, please feel free to comment below. Thanks, we’re all working through this together!
Last update: March 17, 2020
Tax Filing Resources
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Federal deadline to pay AND FILE taxes: The Treasury Secretary has announced that tax payments for individuals and businesses would be extended without penalty for 90 days. That means all taxes due April 15th would now effectively be due July 15th. Filing dates have also been extended now, so returns and extensions aren’t due until July 15th. This page will be updated by the IRS on an ongoing basis.
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State deadlines to pay taxes: Some states have taken similar measures, and more very likely will follow suit. But remember that extra time to pay doesn’t necessarily mean extra time to pay. So watch for the specifics of your state. You can see summarized data about what specific states are doing here.
Loans and Emergency Financing
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SBA Loan Program: The SBA has authorized a massive program to distribute loans of up to $2MM at 3.75% and repayment terms of up to 30 years. Virtually all states are now eligible and more are getting added every week. Watch closely to see when your state is listed, as getting in line sooner than later is probably a good idea. You can find out more details about this program here. You can also watch a video where we walk you through the basics of the loan program here.
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Wisconsin Economic Development Corporation Grants: Providing grants of up to $20k for businesses of 20 or fewer employees. More info available here.
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City of Chicago Loan Program: For businesses of 50 or fewer employees, with $3MM or less in revenues, suffering a decline of 25% or more. Applications can be started here. Or if that link doesn’t work for you try here.
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Sick Leave / Extended Family Medical Leave: There are provisions getting written into a law that would provide for two weeks of sick leave and an extended family medical leave. The sick leave would have to be paid by the employer initially, but the government would eventually foot the bill through the form of tax credits or other subsidies. Details of the bill can be found in this summary.
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Los Angeles Micro-Loan Program: for small businesses needing $5k-20k
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Beaverton Oregon: ongoing monthly assistance with bills available
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Hillsboro Oregon: $5k grants to businesses that serve a large number of people in the community
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Jade District in Portland Oregon: loans available within this community
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Facebook Business Grant Program: might be a combination of money and advertising credits, but information about the program isn’t out yet. Sign up to be on their list to hear more.
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Amazon Business Grant Program: for companies in the Seattle and Bellevue areas with less than 50 employees and less than $7MM in revenues
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iBank California: Various loan programs through affiliates throughout the state
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We’ve heard of various state and local programs as well, so please share with us what you’re hearing about in your areas.
Things That Aren’t Real Yet…
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None that we’re hearing about now. Many of the provisions people were waiting for are a part of the CARES Act. A detailed walkthrough is coming soon…
Resources for Businesses In General
These are things that we’ve come across that could just be helpful in general, whether it’s help in taking your brick and mortar store online or finding contractors that work from home. Please share and add things we should have on this list!
